Suture Anchor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Suture Anchor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : August, 2020 | Medical Devices | PPT format

Report Digest

Global Suture Anchor Market: Overview 

There are possibilities that an athlete might suffer detachment of a ligament or tendon and/or any other soft tissue in the body while practicing or during the game. These injuries are extremely painful and require intensive care. Since, they ligaments and tendons are essential for the smooth movement of the joint, they require a solid support to keep them in place during the healing period. As a result sutures anchors are in high demand. Owing to this growing demand for the anchors, the global suture anchor market is expected to witness a substantial growth in coming years. 

TMR Research's report on global suture anchor market presents actionable insights for the players to support them with better decision making. Moreover, the report also enlightens various aspects such as notable developments, key opportunities, restraints, and regional analysis of global suture anchor market for the time frame of 2018 to 2028. 

Global Suture Anchor Market: Notable Development and Competitive Analysis 

Collaborating with various businesses is one of the major strategies that the players of global suture anchors market are adopting to have a sustainable future in the market. Moreover, acquisition is another step that is helping the businesses to expand their presence in the global market. The reason that is compelling the players to adopt these strategies is the growing competition in the market owing to joining of new players in the market. Already the market is fragmented and is stuffed with various players, it is quite natural that the addition of the new entrants in the global suture anchor market is expected to further intensify the completion. 

Some of the instances where current players of market adopted the strategies of collaboration and merger are mentioned below: 

  • In November 2018, Stryker Corporation acquired K2M Group Holdings, Inc. The acquisition allowed the company to gain access to K2M’s flagship technologies for various orthopedic surgeries including ligament and tendons surgeries, As a result of this acquisition, Stryker Corporation now has technological advantage over its rivals in global suture anchors market. 
  • In October 2018, Zimmer Biomet collaborated with technology giant Apple, Inc. to launch a major clinical study on patients undergone two of the most common surgeries prevalent in U.S. today –hip and knee replacement. As result of this collaboration, Zimmer Biomet shall monitor the progress of the patients through Apple Watch and iPhone, and an app specifically designed interface the data for the two organizations. With the results of this study, Zimmer Biomet can understand how patients are responding to the surgeries that uses sutures and anchors developed by the company. This as a result shall allow the company to design and develop medical equipment specific to the patients. With this development and collaboration Zimmer Biomet is expected to account a major share in the growth of global suture anchors market.

Global Suture Anchor Market: Key Drivers 

Growing Technological Developments to Propel the Growth of the Market 

As a result of technological developments in healthcare sector and incorporation of emerging technologies such as IoT and Artificial intelligence in various surgical equipment are expected to boost the growth of global suture anchor market during the projected timer frame of 2018 to 2028. The market is expected to ride on developments such as STRATAFIX Spiral Knotless Tissue Control Device developed by DePuy Synthes. The suture anchor uses a unique technology that helps the sutures to maintain its line of approximation during the surgery by providing multiple fixation point. 

Growing Demand for Bio-Composites Suture Anchors to Accelerate the Growth 

Owing to benefits such as enhanced visibility of sutures during the surgery, swift insertion and removal of the sutures, and excellent strength of the anchors, the bio-composites sutures anchors are in high demand. Owing to this rising demand for the bio-composites sutures anchors, the market is expected to witness a robust growth in the projected time frame of 2018 to 2028. 

Global Suture Anchor Market: Regional Analysis 

Owing to the factors such as rising participation in sports by youth, and rising number of sports related injuries in U.S. and Canada, North America is expected to dominate rest of the regions of global suture anchor market. The growth is also attributed to the various technological developments by players across the regions. 

The global suture anchor market is segmented on the basis of: 

  • Material 
    • Biocomposite suture anchors
    • PEEK suture anchors
    • Metallic suture anchors
    • Bioabsorbable suture anchors
    • Others

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.